Ferrari have terminated a Formula One sponsorship deal with Swiss blockchain technology company Velas, the team said on Thursday.The Zug-based company became a partner of the Italian racing team last season, with branding prominent on the cars' rear wings, as part of a multi-year deal.Velas was also title sponsor of Ferrari in the F1 Esports Series."Unfortunately, the agreement with Velas has been terminated early by us," Ferrari said on Thursday in response to a Reuters query."We do not comment on matters that are the subject of a dispute and/or litigation."Ferrari, championship runners-up last season and the oldest and most successful team in the sport, have also parted ways with technology partner Snapdragon.A team spokeswoman said that was a one-year commitment with the Qualcomm-owned brand and both parties mutually agreed not to extend.